Legal & General Group Plc boosted its holdings in Helmerich & Payne, Inc. (NYSE:HP) by 3.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 526,962 shares of the oil and gas company’s stock after buying an additional 15,324 shares during the quarter. Legal & General Group Plc owned approximately 0.49% of Helmerich & Payne worth $28,635,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. BlackRock Inc. increased its holdings in Helmerich & Payne by 3,318.2% in the first quarter. BlackRock Inc. now owns 10,967,068 shares of the oil and gas company’s stock valued at $730,077,000 after buying an additional 10,646,223 shares during the last quarter. Vanguard Group Inc. increased its holdings in Helmerich & Payne by 0.7% in the first quarter. Vanguard Group Inc. now owns 10,509,013 shares of the oil and gas company’s stock valued at $699,585,000 after buying an additional 68,948 shares during the last quarter. State Street Corp boosted its stake in Helmerich & Payne by 6.0% in the first quarter. State Street Corp now owns 6,284,704 shares of the oil and gas company’s stock valued at $418,376,000 after acquiring an additional 357,686 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Helmerich & Payne by 13.6% in the first quarter. Bank of New York Mellon Corp now owns 3,374,223 shares of the oil and gas company’s stock valued at $224,623,000 after acquiring an additional 405,024 shares in the last quarter. Finally, Artisan Partners Limited Partnership acquired a new position in Helmerich & Payne in the first quarter valued at $153,996,000.
Shares of Helmerich & Payne, Inc. (NYSE:HP) traded up 0.82% on Friday, reaching $50.19. 2,320,426 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $46.17 and its 200-day moving average price is $56.52. Helmerich & Payne, Inc. has a 1-year low of $42.16 and a 1-year high of $85.78. The company’s market capitalization is $5.45 billion.
Helmerich & Payne (NYSE:HP) last issued its quarterly earnings results on Thursday, July 27th. The oil and gas company reported ($0.25) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.05. The company had revenue of $498.60 million during the quarter, compared to analyst estimates of $452.42 million. Helmerich & Payne had a negative net margin of 11.19% and a negative return on equity of 3.37%. The business’s revenue for the quarter was up 36.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.20) EPS. Analysts anticipate that Helmerich & Payne, Inc. will post ($1.30) EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Monday, November 13th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend is Friday, November 10th. Helmerich & Payne’s dividend payout ratio is currently -167.66%.
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Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Helmerich & Payne from a “sell” rating to a “hold” rating in a research note on Thursday, July 13th. Sanford C. Bernstein restated an “outperform” rating and issued a $66.00 price objective on shares of Helmerich & Payne in a research note on Wednesday, September 6th. BidaskClub upgraded shares of Helmerich & Payne from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Seaport Global Securities restated a “sell” rating on shares of Helmerich & Payne in a research note on Thursday, July 20th. Finally, Jefferies Group LLC set a $54.00 price objective on shares of Helmerich & Payne and gave the company a “hold” rating in a research note on Tuesday, June 6th. Eight research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. Helmerich & Payne has a consensus rating of “Hold” and a consensus price target of $57.96.
In related news, CEO John W. Lindsay purchased 5,000 shares of Helmerich & Payne stock in a transaction dated Tuesday, September 12th. The stock was bought at an average cost of $47.73 per share, with a total value of $238,650.00. Following the purchase, the chief executive officer now owns 147,727 shares in the company, valued at approximately $7,051,009.71. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 3.90% of the company’s stock.
Helmerich & Payne Profile
Helmerich & Payne, Inc is engaged in contract drilling of oil and gas wells for others. The Company operates in the contract drilling industry. The Company’s contract drilling business consists of three segments: U.S. Land, Offshore and International Land. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology.
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